itBit Bitcoin OTC Market Update: February 2016

February proved to be the biggest trading month to date for our bitcoin OTC trading desk. Trading volume increased 211% month-over-month as sellers continued to flood the market. This influx of sellers resulted in deeper transactional price execution discounts and presented an opportunity for the limited number of buyers to price in larger discounts.

Interestingly, OTC sell pressure was inversely correlated with exchange dynamics. The OTC market had little influence over buyers’ mentalities to remain bullish trading on major exchanges as the price of bitcoin rose approximately 16% in February.

itBit Bitcoin OTC Market Data Summary for February 2016

Total Bitcoin Volume Traded

66,230 XBT

Total USD Amount Traded

$26.4 Million

Average Daily Trading Volume

3,153 XBT

Month-over-Month Trading Volume Growth

211%

In addition to total trading volume, we saw significant month-over-month growth across a number of key OTC trading metrics:

Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may
not grow. Currently, there is relatively small use of crypto assets in the retail and commercial
marketplace in comparison to relatively large use by speculators, thus contributing to
price volatility that could adversely affect an investment in crypto assets. In order to
participate in the trading of crypto assets, you should be capable of evaluating the
merits and risks of the investment and be able to bear the economic risk of
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